LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0340%/8h= +37.3% APRnext payment +$3.40 per $10,000 · paid last 24h +0.046%

Price spread now: Phemex against BloFin+0.349%59s7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.329% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)−0.242%−$24 · spread now +0.349%, 7d avg +0.098%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Phemex is 0.251% dearer against BloFin than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.098%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	12.895	0.0220	pay 0.0220% / 8h	2h 19m	$5.2M	$15.8M	75x
Short	Phemex LINKUSDT	12.940	0.0560	get 0.0560% / 8h	2h 19m	$20.0M	$11.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee PhemexbpOrdersPrice spread, now +0.349%Rate

Funding earned: $71.5
Price spread: +0.349% → +0.098%: $25.11
Slippage, 4 orders: −$8.88
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: $63.73
Costs to cover: 0.329%
Break-even: 0.8 days

Slippage from BloFin: live order book, 4 min ago; Phemex: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 4 min ago	0.78 bp	8.2 bp −$8	10.9 bp −$109	26.1 bp −$2,607	doesn't fit
Sell Phemex live order book, 4 min ago	0.39 bp	8.9 bp −$9	13.9 bp −$139	doesn't fit	doesn't fit

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0089% / S +0.0166%	1h	12.925	+0.236%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.909	+0.109%	$525K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.925	+0.230%	$157K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.839%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0039%	8h	12.918	+0.178%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.881	−0.106%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.929	+0.267%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.931	+0.278%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.928	+0.260%	$346K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.934	+0.300%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.932	+0.288%	$275K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.933	+0.295%	$118.9M	$302.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.932	+0.287%	$83.5M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.934	+0.302%	$27.4M	$80.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.945	+0.388%	$181K	$154K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.926	+0.240%	$124.4M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.932	+0.287%	$32.9M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.933	+0.295%	$22.8M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.931	+0.279%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.930	+0.271%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.887	−0.060%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.895	+0.004%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.850	−0.349%	$582K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.849	−0.357%	$131K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.938	+0.333%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.924	+0.221%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.941	+0.361%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.927	+0.248%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.892	−0.023%	$633K	$675K	75x	as long as short
Backpack LINK_USDC_PERP	+0.0103%	1h	12.940	+0.349%	$337K	$390K	15x	as long as short
Extended LINK-USD	+0.0104%	1h	12.927	+0.246%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.921	+0.203%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.925	+0.233%	$920K	$2.8M	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	12.895	long leg	$5.2M	$15.8M	75x
Hyperliquid LINK	+0.0236%	1h	12.948	+0.411%	$80.6M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0277%	1h	12.929	+0.260%	$6.6M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0322%	1h	12.934	+0.299%	$798K	$244K	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.932	+0.287%	$4K	—	20x	as long as short
Phemex LINKUSDTshort	+0.0560%	8h	12.940	+0.349%	$20.0M	$11.3M	50x
dYdX LINK-USD	+0.0714%	1h	12.932	+0.284%	$344K	$33K	10x	as long as short